November 6, 2014

Summary of Consolidated Financial Results for the Second Quarter of the Year Ending March 31, 2015
Company name:

SRA Holdings, Inc.
(URL: http://www.sra-hd.co.jp/)
Stock listing:Tokyo Stock Exchange
Code number:
3817
President:
Toru Kashima
For inquiries, please contact:
Makoto Kitai, General Manager, Finance Department, Administrative HeadquartersTel:(03)-5979-2666
Scheduled date of submission of quarterly securities report:
November 7, 2014
November 28, 2014
Scheduled commencement of dividend payment:
Quarterly Results Supplemental Materials
Yes
Quarterly Results Presentation MeetingYes

1. Consolidated results for the second quarter of the fiscal year ending March 2015
(from April 1, 2014 to September 30, 2014)(1) Consolidated Operating Results (cumulative total)
Net Sales

Second quarter of fiscal
2015
Second quarter of fiscal
2014(All amounts rounded down, % change YoY)
Ordinary Profit

Operating Income

Net Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

16,503

1.1

983

1.8

1,273

6.7

(96)

－

16,321

7.6

966

7.4

1,193

24.6

664

30.1

Note：Comprehensive Income
Second quarter of fiscal 2015: ¥245 million((62.4)%)
Second quarter of fiscal 2014: ¥654 million(113.0%)

Second quarter of fiscal
2015
Second quarter of fiscal
2014

Net Income

Net Income

per Shareper Share after Dilution

Yen

Yen

(8.01)

－

50.61

50.33

(2) Consolidated Financial Position

Second quarter of fiscal
2015
Fiscal 2014

Shareholders’ Equity Ratio

Total Assets

Net Assets

Millions of yen

Millions of yen%

28,644

16,92059.0

29,527

17,083

57.7

Reference: Shareholders’ equity
Second quarter of fiscal 2015 : ¥16,911 million
Fiscal 2014: ¥17,051 million

2. Dividends
Dividend per Share
End of First Quarter
Fiscal 2014
Fiscal 2015

End of Second QuarterEnd of Third Quarter

Yen

Yen

Yen

Yen

Yen

―
―

0.00
17.00

―

40.00

40.00

―

28.00

45.00

Fiscal 2015 (forecast)
Note: Revision of dividend forecast in this quarter:No
1Year-end

For the Year

3. Consolidated Earnings Forecast for Fiscal 2015 (from April 1, 2014 to March 31, 2015)(% of change from

FY2014）Net Income
Net Sales

Operating Income

Ordinary Profit

Net Income
per Share

FY2015

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

37,300

6.1

3,260

16.1

3,460

4.1

2,230

4.5

185.85

Note: Revision of consolidated results forecast in this quarter:No

4. Others(1) Changes to significant subsidiaries during the current period :No(2) Application of simplified accounting and application of special accounting :No(3) Changes in accounting principles, changes in accounting estimates, and restatements
1. Changes caused by revision of accounting standards, etc. :Yes
2. Changes other than 1. above:No
3. Changes in accounting estimates:
No
4. Restatements:
No(4) Number of shares outstanding (common stock)
1. Number of shares outstanding (including treasury stock)
Second quarter of fiscal 2015:15,240,000 sharesFiscal 2014:15,240,000 shares
2. Number of treasury stock
Second quarter of fiscal 2015:
3,210,445 sharesFiscal 2014:
3,297,610 shares
3. Average number of shares over period (consolidated total for quarter)
Second quarter of fiscal 2015:
11,999,102 shares
Second quarter of fiscal 2014:
13,138,287 shares*Indication of quarterly review procedure implementation status
This earnings release is not subject to the quarterly review process as required by the Financial Instruments and Exchange Act of Japan.
As of the date when this earning release was issued, the review process on quarterly financial statements as required by the Financial
Instruments and Exchange Act had been finished.

*Explanation relating to the appropriate use of results forecasts, and other noteworthy items
Forward-looking statements in this earnings release, such as forecasts of results of operations, are based on the information currently
available and the certain assumptions that we regard as reasonable and therefore actual results may differ materially from those containedin or suggested by any forward-looking statements.

2

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

1. Qualitative Information Concerning Second-Quarter Consolidated Business Results(1) Explanation Concerning Business Results
During the second quarter of the fiscal year (April 1, 2014 to September 30, 2014), the Japanese economy continued
its moderate recovery thanks to an increasingly visible pickup in personal consumption, which had previously
weakened in reaction to a last-minute surge in demand prior to the consumption tax increase, as well to thecontinuation of such trends as a rise in capital investment and improved corporate earnings.
In the information services industry, despite an ongoing recovery in IT investments, the environment for securing
orders remained severe due to intensifying competition.
Within this business environment, the SRA Holdings Group set the goal of surpassing its all-time high inconsolidated net income during the final fiscal year of its Medium-Term Management Plan. In doing so, the Group
implemented the following specific measures as part of efforts to “undertake structural reforms in existing
businesses” as well as our “own IP products business” x “overseas business,” which is our medium- and long-term
growth strategy.
■Undertake structural reforms in existing businesses
As measures to expand orders and sales by strengthening business capabilities, we created new projects throughproposal-based sales that utilize our strong points and fortified our order management structure. As a result of these
efforts, Software Research Associates, Inc. (SRA) recorded an increase in sales over the same period of the previous
fiscal year. Meanwhile, to build a high-profit production structure we continued working to strengthen our staff
allocation management and realize an appropriate level of production overhead costs.
■“Own IP products business” x “overseas business”
We made additional business investments in Cavirin Systems, Inc. and Proxim Wireless Corporation with the aim offurther implementing our medium- and long-term growth strategy of promoting our own IP products business in
China, India, ASEAN and other growth markets.
Proxim Wireless fully commenced the licensing business for its leading-edge wireless products in the BRICs.
Cavirin Systems began sales of the cavirin solution for IT infrastructures in the United States in July and has alreadyformed contracts with a number of prominent companies. Backed by these achievements, Cavirin Systems announced
that it will begin sales of cavirin in the Japanese market, where cloud computing is advancing rapidly. This solution
responds to needs for strengthening compliance based on standards such as ISO 27000 and for sophisticated security
measures against cyberattacks.
In our own IP business in Japan, as new products we began supplying TestDepot, an embedded software
automated test support tool that responds to demand in the manufacturing industry; ProjDepot, an integrated
management platform for team development that aims at streamlining systems development; and “UniVision viewing
time management” solution for universities. In conjunction, we focused on expanding sales of such products as ourcomprehensive education solutions UniVision, our mail archive MailDepot, our digital content service BELEGA-DC
and our EC building service BELEGA-EC.
Additionally, in the healthcare field, where markets are expected to grow, we promoted business for
HEALTHPLAYER, a platform for comprehensive support for the digital health business in collaboration with
Practechs, Inc. as an initiative for building a new business model.
Due to the above initiatives, our consolidated business results for the second quarter of the fiscal year were as
follows.
In terms of net sales, although sales in the Product Sales business declined, the Systems Development business
3

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

posted higher sales while the System Operations and Infrastructure Development business recorded a sharp increasein sales. As a result, consolidated net sales amounted to ¥16,503 million, a 1.1% increase from the same period of theprevious fiscal year.
At the profit level, operating income surged 1.8% from the same period of the previous fiscal year to ¥983million
due to growth in sales and an improvement in the gross profit margin, and ordinary profit rose 6.7% from the same
period of the previous fiscal year to ¥1,273 million.
A loss on valuation of investment securities for shares in SJI Inc. held by the SRA Group was posted as an
extraordinary loss. As a result, a net loss of ¥96 million was recorded.
The Company applied the reversal method (araigae method, which allows for upward revisions at the beginningof the next fiscal period) for the valuation of investment securities. Therefore, depending on the market value of
securities during or at the end of this fiscal year, there is the possibility that the amount of this extraordinary loss willchange or that no extraordinary loss will be recorded on the valuation of securities.
As detailed above regarding consolidated results for the second quarter of the fiscal year, net sales increased fromthe same period of the previous fiscal year, while operating income and ordinary profit also rose. However, a net loss
was recorded in the second quarter due to an extraordinary loss.
Net sales and ordinary profit generally moved in line with our forecast for consolidated results for the second
quarter, but at the net income level results were significantly below the forecast due to the recording of a net loss.

A summary of consolidated business results for the second quarter by business segment is shown below.
1) Systems Development
The Systems Development business recorded increases in sales to banks and securities companies. As a result, net
sales edged up 3.1% from the same period of the previous fiscal year to ¥8,744 million.
2) System Operations and Infrastructure Development
Although university-related orders rose just slightly, there was a large increase in orders from companies. As a result,net sales of the System Operations and Infrastructure Development business increased 11.5% from the same period of
the previous fiscal year to ¥1,915 million.
3) Product Sales
Although SRA posted an increase in sales, large-scale orders (device sales) by Advanced Integration Technology, Inc.
(AIT) were pushed back to the second half of the year. As a result, net sales of the Product Sales business decreased
4.6% from the same period of the previous fiscal year to ¥5,843 million.

(2) Explanation Concerning Financial Condition
Total assets at the end of the fiscal year amounted to ¥28,644 million, a decrease of 3.0% from the end of the previous
fiscal year. Total liabilities decreased 5.8% from the end of the previous fiscal year to ¥11,723 million and net assets
decreased 1.0% to ¥16,920 million from the end of the previous fiscal year. Details of the principal increases anddecreases from the end of the previous fiscal year are as follows.
(Total Assets)
Merchandise and finished goods increased ¥771 million to ¥1,072 million due to a rise in device sales. Work in processincreased ¥400 million to ¥1,831 million due to such factors as a rise in contracted development projects. On the4

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

other hand, notes and accounts receivable—trade decreased ¥1,535 million to ¥5,320 million due to the collection of
trade receivables. Investment securities decreased ¥294 million to ¥3,323 million due to such factors as changes inmarket prices.
(Total Liabilities)
Provision for bonuses increased ¥90 million to ¥640 million. Income taxes payable decreased ¥431 million to ¥451
million owing to the payment of corporate income taxes. Short-term loans payable decreased ¥300 million to ¥1,209
million due to the repayment of loans.
(Total Net Assets)
Valuation difference on available-for-sale securities increased ¥351 million to ¥589 million due to changes in themarket prices of marketable and investment securities. On the other hand, retained earnings decreased ¥573 million to¥13,758 million.

(3) Explanation Concerning Consolidated Results Forecast and Other Future Projections
No revision has been made to forecasts in Summary of Consolidated Financial Results for the Year Ended March 31,
2014 released on May 8, 2014.

2. Summary Information (Notes)(1) Significant changes involving subsidiaries during the period: None
(2) Application of simplified accounting methods and accounting methods specific to the preparation of the quarterly
consolidated financial statements: None
(3) Changes in accounting principles, changes in accounting estimates and restatements(Change in Accounting Policies)
Effective from the first quarter of the fiscal year ending March 31, 2015, the Company adopted the AccountingStandard for Retirement Benefits (ASBJ Statement No. 26, May 17, 2012, hereafter, “Standard”) and Guidanceon Accounting Standard for Retirement Benefits (ASBJ Guidance No. 25, May 17, 2012, hereafter, “Guidance”),
as set out in the main clause of paragraph 35 of the Standard and the main clause of paragraph 67 of the Guidance.
Accordingly, the methods for calculating retirement benefit obligations and service costs have been revised. The
method of attributing expected benefit payments to periods has been changed from a point basis to the benefit
formula basis and the method of determining the discount rate has been changed from a discount rate based on
the approximate number of years of the average remaining service period of employees for the liability periodthat serves as the basis for determining the discount rate to a single weighted average discount rate reflecting the
expected timing and amount of benefit payment in each period.
The adoption of the Standard and the Guidance conforms with the transitional treatment stipulated byparagraph 37 of the Standard.
The impact of this change on net defined benefit liability and retained earnings at the beginning of thesecond quarter as well as on operating income, ordinary profit and income before income taxes and minority
interests in the second quarter of the fiscal year was immaterial.
5

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

3. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of Yen)FY2014(as of March 31, 2014)

End of second quarter of FY2015(as of September 30, 2014)ASSETS
Current assets:
Cash and deposits

7,689

7,612

Notes and accounts receivable—trade

6,855

5,320

Short-term investment securities

3,112

3,332

Merchandise and finished goods

300

1,072

Work in process

1,430

1,831

Deferred tax assets

546

576

Other

2,208

2,172

Allowance for doubtful accounts

(27)

(35)

22,117

21,883

Buildings

346

309

Accumulated depreciation

(249)

(222)

Buildings, net

97

87

Machinery, equipment and vehicles

575

584

Accumulated depreciation

(517)

(520)

Machinery, equipment and vehicles, net

58

63

Other

114

110

Accumulated depreciation

(75)

(73)

Other, net

39

36

Total property, plant and equipment

195

187

Other

672

597

Total intangible assets

672

597

Investment securities

3,618

3,323

Deferred tax assets

1,421

1,231

Guarantee deposits

370

348

Net defined benefit asset

42

45

Other

1,206

1,141

Allowance for doubtful accounts

(13)

(13)

Allowance for investment loss

(104)

(100)

Total investments and other assets

6,542

5,976

7,410

6,761

29,52728,644

Total current assets
Noncurrent assets:
Property, plant and equipment

Intangible assets

Investments and other assets

Total noncurrent assets
Total assets

6

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(Millions of Yen)
End of second quarter of FY2015(as of September 30, 2014)

FY2014(as of March 31, 2014)
LIABILITIESCurrent liabilities:
Accounts payable—trade

3,211

3,264

Short-term loans payable

1,509

1,209

Accrued expenses

583

493

Income taxes payable

882

451

Accrued consumption taxes

255

274

Provision for bonuses

550

640

Provision for directors’ bonuses

50

25

Provision for loss on construction contracts

416

485

Asset retirement obligations

18

–

Other

851

737

8,329

7,581

9

9

3,926

3,987

Provision for directors’ retirement benefits

161

130

Other

17

14

4,114

4,142

12,443

11,723

Capital stock

1,000

1,000

Capital surplus

4,475

4,468

Retained earnings

14,332

13,758Treasury stock(2,826)(2,727)

Total shareholders’ equity

16,982

16,500

Valuation difference on available-for-sale securities

238

589

Foreign currency translation adjustments

229

213

Remeasurements of defined benefit plans

(399)

(392)

68

410

32

9

Total net assets

17,083

16,920Total liabilities and net assets

29,52728,644

Total current liabilities
Noncurrent liabilities:
Deferred tax liabilities

Net defined benefit liability

Total noncurrent liabilities
Total liabilities
NET ASSETS
Shareholders’ equity

Accumulated other comprehensive income

Total accumulated other comprehensive income
Subscription rights to shares

7

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Consolidated Cumulative Total for Second Quarter)(Millions of Yen)
Consolidated cumulative total

Consolidated cumulative total

for second quarter of fiscal

for second quarter of fiscal

2014 (from April 1, 2013 to2015 (from April 1, 2014 toSeptember 30, 2013)

September 30, 2014)

Net sales

16,321

16,503

Cost of sales

13,505

13,631Gross profit

2,815

2,872

Selling, general and administrative expenses

1,849

1,888

966

983

Interest received

94

93

Dividends received

33

13

Foreign exchange gains

51

119

Guarantee commission received

34

60

Other

41

36

Total non-operating income

255

323

Interest expenses

13

13

Stock transfer agency service fee

13

12

Other

0

7

Total non-operating expenses

27

33

1,193

1,273

Gain on reversal of subscription rights to shares

－

21

Other

6

－

Total extraordinary income

621

Loss on retirement of noncurrent assets

2

14

Loss on valuation of investment securities

－

866

Other

4

20

Total extraordinary loss

6

901

1,193

393

Income taxes-current

553

527

Income taxes-deferred

(24)

(37)

Total income taxes

528

489

Income (loss) before minority interests

664

(96)

Net income (loss)

664

(96)

Operating income
Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary loss

Income before income taxes and minority
interests

8

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(Quarterly Consolidated Statements of Comprehensive Income)(Consolidated Cumulative Total for Second Quarter)
Income (loss) before minority interests

664

(96)

Other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustments

(220)

351

209

(15)

Remeasurements of defined benefit plans, net of tax－

6

Total other comprehensive income (loss)

(10)

342

654

245

654

245

－

－

Comprehensive income(breakdown)Comprehensive income attributable to parent
company shareholders
Comprehensive income attributable to minority
shareholders

9

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(3) Consolidated Statements of Cash Flows(Millions of Yen)
Consolidated
cumulative total forsecond quarter of fiscal
2014 (from April 1,2013 to September 30,
2013)

Consolidated
cumulative total forsecond quarter of fiscal
2015 (from April 1,2014 to September 30,
2014)

1,193

393

Depreciation and amortization

199

205

Increase (decrease) in provision for retirement benefits

(4)

–

–

61

Increase (decrease) in provision for directors’ retirement benefits

(15)

(31)

Increase (decrease) in provision for bonuses

47

89

Increase (decrease) in provision for directors’ bonuses

(18)

(24)

Increase (decrease) in allowance for doubtful accounts(1)8

Increase (decrease) in allowance for investment loss

(2)

0

(128)

(106)

Interest expenses

13

13

Loss (gain) on valuation of investment securities–

866

Loss on retirement of noncurrent assets

2

14

Decrease (increase) in notes and accounts receivable—trade

815

1,538

Decrease (increase) in inventories(974)(1,172)

Increase (decrease) in notes and accounts payable—trade

472

45

Increase (decrease) in other liabilities

(120)

(231)

Increase (decrease) in accrued consumption taxes

(107)

18

Other, net

73

(79)

Subtotal

1,443

1,609

Interest and dividends income received

105

75

Interest expenses paid

(14)

(13)

Income taxes paid

(678)

(668)

Net cash provided by operating activities

855

1,003

Purchase of short-term investment securities

–

(300)

Purchase of property, plant and equipment

(12)

(43)

Purchase of intangible assets

(41)

(73)

Purchase of investment securities

(55)

(0)

Proceeds from sales of investment securities

798

100

Proceeds from liquidation of subsidiaries and affiliates

82–

Payments of loans receivable

(603)

(363)

Collection of loans receivable

101

314

Payments into time deposits

(80)

(0)

Payments for guarantee deposits

(11)

(0)

Proceeds from collection of guarantee deposited

1130

Net cash provided by (used in) operating activities:
Income before income taxes and minority interests

Increase (decrease) in net defined benefit liability

Interest and dividend income

Net cash provided by (used in) investing activities:

10

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

Other, net

(0)

(0)

Net cash provided by (used in) investing activities

189

(337)

(20)

–

Repayment of long-term loans payable

–

(300)

Purchase of treasury stock

(0)

(0)

(591)

(477)

Proceeds from exercise of stock option

–

80

Other

(0)

(0)

(612)

(697)

Effect of exchange rate changes on cash and cash equivalents

77

(44)

Net increase (decrease) in cash and cash equivalents

511

(76)

Cash and cash equivalents at beginning of period

7,497

7,909

Cash and cash equivalents at the end of period

8,008

7,832

Net cash provided by (used in) financing activities:
Net increase (decrease) in short-term loans payable

Cash dividends paid

Net cash used in financing activities

11

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015(4) Notes Concerning Consolidated Financial Statements for the Second Quarter(Notes Concerning Premise of Going Concern)
None(Notes on Significant Changes in Shareholders’ Equity)
None(Segment Information and others)[Segment Information]
I. Consolidated cumulative total for second quarter of fiscal 2014 (from April 1, 2013 to September 30, 2013)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of yen)AmountSystemOperations

Systems
Development

andInfrastructurerecorded on
Product

Adjustment

Total

Sales

amount*1

the quarterly
consolidated
statements ofDevelopment

income*2

Sales(1) Sales to
Customers(2) Intersegment
sales ortransfers
Total sales
Operating income

8,478

1,718

6,125

16,321－

16,321

15

136

229

381

(381)

－

8,494

1,854

6,355

16,703(381)

16,321

881

364

339

1,584

(618)

966

Notes:
1. The segment income adjustment of minus ¥618 million is a company-wide expense not apportioned to any reporting segment.
Company-wide expenses are general and administrative expenses and R&D expenses not attributed to any reporting segment.
2. Segment operating income is adjusted in operating income on the quarterly consolidated statements of income.

2. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None

12

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

II. Consolidated cumulative total for second quarter of fiscal 2015 (from April 1, 2014 to September 30, 2014)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of yen)AmountSystemOperations

Systems
Development

andInfrastructurerecorded on
Product

Adjustment

Total

Sales

amount*1

the quarterly
consolidated
statements ofDevelopment

income*2

Sales(1) Sales to
Customers(2) Intersegment
sales ortransfers
Total sales
Operating income

8,744

1,915

5,843

16,503－

16,503

4

149

294

449

(449)

－

8,749

2,065

6,138

16,953(449)

16,503

752

423

430

1,606

(622)

983

Notes:
1. The segment income adjustment of minus ¥622 million is a company-wide expense not apportioned to any reporting segment.
Company-wide expenses are general and administrative expenses and R&D expenses not attributed to any reporting segment.
2. Segment operating income is adjusted in operating income on the quarterly consolidated statements of income.

2. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None

13

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(Significant subsequent events)
Subsidiary SRA provided a liability guarantee for short-term borrowings by SJI Inc., with which it has a businessalliance and capital alliance. However, based upon a request by that company for an extension of the guarantee period,
the Board of Directors of SRA passed a resolution and extended the liability guarantee period as detailed below at a
meeting of the Board of Directors of SRA convened on October 16, 2014.
Amount of liability guarantee: ¥1,500 million
Period of liability guarantee before change: October 31, 2014
Period of liability guarantee after change: November 28, 2014

14

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

4. Other Information
1. Status of Production, Orders and Sales
 Production amounts
Production by segment in the second quarter of the fiscal year ending March 31, 2015 is as follows.
Consolidated cumulative total for

Segment information by type of businesssecond quarter of fiscal 2015 (from% change YoY

April 1, 2014 to September 30, 2014)

Systems Development (Millions of Yen)
System Operations and Infrastructure
Development (Millions of Yen)
Total (Millions of Yen)

9,108

100.7

1,937

111.8

11,045102.4

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

 Purchase amounts
Purchases by segment in the second quarter of the fiscal year ending March 31, 2015 are as follows.
Consolidated cumulative total for

Segment information by type of businesssecond quarter of fiscal 2015 (from% change YoY

April 1, 2014 to September 30, 2014)

Product Sales (Millions of Yen)

4,224

97.9

Total (Millions of Yen)

4,224

97.9

Notes:
1. Amounts are based on purchase price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

15

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

 Status of orders
Status of orders by segment in the second quarter of the fiscal year ending March 31, 2015 is as follows.
OrdersSegment information by type of business

Order backlog

received% change YoY(Millions of% change YoY

Yen)

Yen)

Systems Development(Millions of

9,336

92.5

5,002

85.1

1,578

108.9

1,285

107.5

Product Sales

6,695

96.4

3,579

88.9

Total

17,610

95.2

9,866

88.9

System Operations and Infrastructure
Development

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

 Sales amounts
Sales by segment in the second quarter of the fiscal year ending March 31, 2015 are as follows.
Consolidated cumulative total for

Segment information by type of businesssecond quarter of fiscal 2015 (from% change YoY

April 1, 2014 to September 30, 2014)

Systems Development (Millions of Yen)

8,744

103.1

1,915

111.5

Product Sales (Millions of Yen)

5,843

95.4

Total (Millions of Yen)

16,503

101.1

System Operations and Infrastructure
Development (Millions of Yen)

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

16